Chevron Corporation $CVX Shares Sold by Prudential PLC

Prudential PLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 37.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,828 shares of the oil and gas company’s stock after selling 18,853 shares during the quarter. Prudential PLC’s holdings in Chevron were worth $4,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. Daytona Street Capital LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $44,000. Maseco LLP acquired a new stake in shares of Chevron during the 4th quarter worth approximately $49,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX opened at $187.46 on Friday. The stock has a fifty day moving average price of $190.66 and a two-hundred day moving average price of $176.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $373.35 billion, a P/E ratio of 32.49, a PEG ratio of 0.62 and a beta of 0.48. Chevron Corporation has a 1 year low of $138.09 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. Research analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 615,200 shares of company stock valued at $118,022,760. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVX shares. Morgan Stanley increased their price target on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Citigroup increased their price target on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Friday, March 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Finally, Bank of America raised their target price on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.70.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
• Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
• Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
• Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
• Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
• Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.